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Individual Tax Engagement 2015 final withauditandaddress .pdf



Original filename: Individual Tax Engagement 2015 final-withauditandaddress.pdf
Title: SCOTT RUBENSTEIN
Author: Compaq

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L.A. Tax Service, LLP
8350 MELROSE AVE. 2ND Fl. #202
LOS ANGELES, CA 90069
TEL: (323) 658-5271
FAX: (323) 658-1114 (323) 395-5900

L. A. TAX SERVICE, LLP
L. A. TAX SERVICE, LLP
L. A. TAX SERVICE, LLP

Client Name:
Dear Client,
We appreciate the opportunity to work with you. To minimize the possibility of a misunderstanding
between us, we are setting forth pertinent information about the services we will perform for you.
We will prepare your 2015 Federal and California state individual income tax returns from
information you furnish us and we may process them with an outside computer service. We will not
audit or otherwise verify the data you submit, although we may ask you to clarify some of the
information. We will furnish you with questionnaires to help you gather and organize the necessary
information for us, in order to keep our fee to a minimum.
It is your responsibility to maintain, in your records, the documentation necessary to support the
data used in preparing your tax returns, including but not limited to the auto, travel, entertainment,
and related expenses and the required documents to support charitable contributions all checks and
acknowledgement letters for $250 and above. If you have any questions as to the type of records
required, please ask us for advice in that regard. It is also your responsibility to carefully examine
and approve your completed tax returns before signing and mailing them to the tax authorities. We
are not responsible for the disallowance of doubtful deductions or inadequately supported
documentation, nor for resulting taxes, penalties and interest.
Professional standards now require us to electronically file all federal and California state
individual income tax returns (“e-filing”). However, you do have the right to “opt out” of the efiling program. Please notify our firm immediately should you desire not to have your return e-filed
so that we may provide you with the form(s) necessary for opting out of the e-file program. Please
note that unless you notify us of your desire to not e-file your return, we will prepare your return to
be e-filed.
We must receive all information to prepare your return by 04/01/2016, to ensure that your return
will be completed by April 18, 2016 If we have not received all of your information by 04/01/2016,
and your return is not completed by April 18, 2016 you may be subject to late filing or late payment
penalties.

Although e-filing requires both you and our firm to complete additional steps, the same filing
deadlines will apply. You must therefore ensure that you complete the additional requirements well
before the due dates in order for our firm to be able to timely transmit your return. We will provide
you with a PDF copy of the income tax returns for your review prior to electronic transmission.
Initial_________

If you require a paper copy please let us know. After you have reviewed the returns, you must
provide us with a signed authorization indicating that you have reviewed the return and that, to the
best of your knowledge, you feel it is correct. We cannot transmit the returns to the taxing
authorities until we have the signed authorization. Therefore, if you have not provided our firm with
your signed authorization by 04/01/2016 we will place your return on extension, even though it
might already have been completed. In that event, you will be responsible for ensuring that any
payment due with the extension is timely sent to the appropriate taxing authorities. You will also be
responsible for any additional costs our firm incurs arising from the extension preparation.

Initial here______to approve of the extension filing.
Finally, please note that although our firm will use our best efforts to ensure that your returns are
successfully transmitted to the appropriate taxing authorities, we will not be financially responsible
for electronic transmission or other errors arising after your return has been successfully submitted
from our office.
We are responsible for preparing only the returns listed above. Our fee does not include responding
to inquiries or examination by taxing authorities. However, we are available to represent you. Our
fees for such services are at our standard rates and would be covered under a separate engagement
letter.
We will use our judgment to resolve questions in your favor where a tax law is unclear if there is a
reasonable justification for doing so. Whenever we are aware that a possibly applicable tax law is
unclear or that there are conflicting interpretations of the law by authorities (e.g., tax agencies and
courts), we will explain the possible positions that may be taken on your return. In accordance with
our professional standards, we will follow whatever position you request, as long as it is consistent
with the codes, regulations, and interpretations that have been promulgated. If the IRS should later
contest the position taken, there may be an assessment of additional tax plus interest and penalties.
Currently, the IRS and state taxing agencies are aggressive in assessing penalties. We assume no
liability for any such additional penalties or assessments. In the event, however, that you ask us to
take a tax position that in our professional judgment will not meet the applicable laws and standards
as promulgated, we reserve the right to stop work and shall not be liable to you for any damages
that occur as a result of ceasing to render services.
Please note that any person or entity subject to the jurisdiction of the United States (includes
individuals, corporations, partnerships, trusts, and estates) having a financial interest in, or
signature or other authority over, bank accounts, securities, or other financial accounts
having a value exceeding $10,000 in a foreign country, shall report such a relationship.
Although there are some limited exceptions, filing requirements also apply to taxpayers that
have direct or indirect control over a foreign or domestic entity with foreign financial
accounts, even if the taxpayer does not have foreign account(s). For example, a corporateowned foreign account would require filings by the corporation and by the individual
corporate officers with signature authority. Failure to disclose the required information to the
U.S. Department of the Treasury may result in substantial civil and/or criminal penalties.

Initial________

If you and/or your entity have a financial interest in any foreign accounts, you are responsible
for providing our firm with all the information necessary to prepare Form TD-F-90-22.1
required by the U.S. Department of the Treasury in order for the form to be received by the
Department on or before June 30th of each tax year.
If you do not provide our firm with information regarding any interest you may have in a
foreign account, we will not be able to prepare any of the required disclosure statements.
In addition, the Internal Revenue Service also requires information reporting under
applicable Internal Revenue Code sections and related regulations, and the respective IRS tax
forms are due when your income tax return is due, including extensions. The IRS reporting
requirements are in addition to the U.S. Department of the Treasury reporting requirements
stated above. Therefore, if you fall into one of the below categories, or if you have any direct
or indirect foreign interests, you may be required to file applicable IRS forms.
 You are an individual or entity with ownership of foreign financial assets and meet the
specified criteria (Form 8938);
 You are an officer, director or shareholder with respect to certain foreign corporations
(Form 5471);
 You are a foreign-owned U.S. corporation or foreign corporation engaged in a U.S.
trade or business (Form 5472);
 You are a U.S. transferor of property to a foreign corporation (Form 926);
 You are a U.S. person with an interest in a foreign trust (Forms 3520 and 3520-A); or
 You are a U.S. person with interests in a foreign partnership (Form 8865).
Failure to timely file the appropriate forms with the U.S. Department of the Treasury and the
Internal Revenue Service may result in substantial monetary penalties. By your signature
below, you accept responsibility for informing us if you believe that you may have foreign
reporting requirements with the U.S. Department of the Treasury and/or Internal Revenue
Service and you agree to timely provide us with the information necessary to prepare the
appropriate form(s). We assume no liability for penalties associated with the failure or
untimely filing of any of these forms.
Federal law has extended the attorney-client privilege to some, but not all, communications
between a client and the client’s CPA. The privilege applies only to non-criminal tax matters that
are before the IRS or brought by or against the U.S. Government in a federal court. The
communications must be made in connection with tax advice. Communications solely concerning
the preparation of a tax return will not be privileged.
In addition, your confidentiality privilege can be inadvertently waived if you discuss the contents of
any privileged communication with a third party, such as a lending institution, a friend, or a
business associate. We recommend that you contact us before releasing any privileged information
to a third party.
If we are asked to disclose any privileged communication, unless we are required to disclose the
communication by law, we will not provide such disclosure until you have had an opportunity to
argue that the communication is privileged. You agree to pay any and all reasonable expenses that
we incur, including legal fees, that are a result of attempts to protect any communication as
privileged.
Initial________

Fees for our services will be at our standard rates plus computer charges and out-of-pocket
expenses. Payment for service is due when rendered and interim billings may be submitted as work
progresses and expenses are incurred. Your tax return preparation fee must be paid before your
return is to be filed.
We reserve the right to stop work on any account that is 90 days past due, in accordance with our
firm’s stated collection policy. Any account delinquent for more than 90 days may result in
collections proceedings
____ I understand my tax return fee must be paid in full (including any prepaid audit fees related
initial to this return) and I must have no outstanding balance before my return is filed.

You acknowledge and agree that L.A. TAX Service, LLP is not required to continue work in the
event of failure to pay within 90 days from date of oldest outstanding invoice. You further
acknowledge and agree that in the event we stop work or withdraw from this engagement as a result
of failure to pay within 90 days from date of oldest outstanding invoice, L.A. TAX Service, LLP
shall not be liable to you for any damages resulting from our cessation of services and L.A TAX
Service, LLP has the right to take Legal action and refer your account to collections.
It is our policy to keep records related to this engagement for five years. However, L.A. Tax
Service, LLP does not keep any original client records, so we will return those to you at the
completion of the services rendered under this engagement. When records are returned to you, it is
your responsibility to retain and protect your records for possible future use, including potential
examination by any government or regulatory agencies.
OUR ACCOUNTING AND BOOKKEEPING ASSISTANCE IS LIMITED
While we will render the accounting and bookkeeping assistance we find necessary for preparing
the income tax return(s), our work in connection with the preparation of your income tax return(s)
does not include any procedures designed to discover defalcations or other irregularities, should any
exist.
WE ARE NOT INVESTMENT ADVISORS
We are not investment counselors, brokers or stock agents. We can only advise you on the tax
implications of an investment in light of today's tax laws and economy. From time to time during
our relationship, you may seek our advice with regard to potential investments. We are not
investment advisors. Accordingly, we suggest that you seek the advice of qualified investment
advisors appropriate to each investment being considered.
Our advice regarding the tax ramifications of the investment shall be based on documents and
information that you provide us regarding the investment. It is specifically understood and agreed
that we will not undertake any independent due diligence investigation regarding the investment
and that we may rely on the accuracy of the documents and information that you provide us in
rendering our opinion about the tax ramifications of the investment.
Our advice concerning any particular investment shall be limited to advising you with regard to the
tax ramifications of the investment. It shall not include advising you regarding the economic
viability or consequences of the investment or whether or not you should make the investment.
You agree not to rely on any statement or opinion made by us with regard to the investment in
coming to a decision regarding the economic viability or consequences of that investment or
regarding whether or not to make that investment.
Initial_____________

NON-LICENSE OWNER
From time to time, an owner of our firm who is not licensed as a CPA in California may participate
in providing Services to you.
If any dispute arises among the parties hereto, the parties agree to first try in good faith to settle the
dispute by mediation administered by the American Arbitration Association <or other association>
under its Rules for Professional Accounting and Related Services Disputes before resorting to
litigation. Costs of any mediation proceeding shall be shared equally by all parties.
Client and accountant both agree that any dispute over fees charged by the accountant to the client
will be submitted for resolution by arbitration in accordance with the Rules for Professional
Accounting and Related Services Disputes of the American Arbitration Association <or other
association>. Such arbitration shall be binding and final. IN AGREEING TO ARBITRATION, WE
BOTH ACKNOWLEDGE THAT, IN THE EVENT OF A DISPUTE OVER FEES CHARGED BY
THE ACCOUNTANT, EACH OF US IS GIVING UP THE RIGHT TO HAVE THE DISPUTE
DECIDED IN A COURT OF LAW BEFORE A JUDGE OR JURY AND INSTEAD WE ARE
ACCEPTING THE USE OF ARBITRATION FOR RESOLUTION.]
If the above fairly sets forth your understanding, please sign the enclosed copy of this letter
and return it to us. Please note that you are affirming to L.A. TAX SERVICE, LLP your
understanding of, and agreement to, the terms and conditions of this engagement letter by
any one of the following actions: returning your signed engagement letter to our firm;
returning your income tax information to us for use in the preparation of your returns; the
submission of the tax returns we have prepared for you to the taxing authorities; or the
payment of our return preparation fees.
We are pleased to have you as a client and look forward to a long and mutually satisfying
relationship.
Sincerely,
L.A. TAX SERVICE, LLP

Approved:

______________________________
Client

Initial_______

L. A. Tax Service, LLP 8350 Melrose Avenue, Suite #202 L.A. CA 90069
Tel: (323) 658-5271 Fax: (323) 395-5900
Name: ______________________________________ Date: ____________

Prepaid Audit and/or Correspondence Representation and Hourly Rates
Prepaid Audit Representation is an amount paid now to cover fees that would be charged in the event
of an audit and/or correspondence with the IRS and/or the FTB.
The Internal Revenue Service has three years and the State has four years in which to audit your tax
return. Audit Representation Fees are for both Federal and State combined.
Be aware, you are responsible for gathering and doing the basic organizing of your receipts.
Prepaid audit and/or correspondence representation is a small amount up front that covers all our fees
if your return is selected for audit.
$45
$110
$125
5 charge for each additional Schedule C, E, etc. $25 x ____ = $____
PLEASE INITIAL:
_______Yes I would like prepaid representation. My payment is enclosed.
______NO if return audited, or receive correspondence; I will be billed for audit or correspondence
response, work at hourly rates:
$300 per hour for partner
$175 per hour for staff level I
$125 per hour for staff level II
Our hourly rates are charged for Quickbooks or Quicken support, letters to lenders, County or City
Tax, Financial Statements and any other accounting work as needed.
IF CORRESPONDENCE RESULTS IN AN AMENDED TAX RETURN BEING REQUIRED DUE
TO CLIENT OMISSION, AN ADDITIONAL FEE BASED ON THE AMOUNT OF WORK WILL
BE BILLED
Business management and regular monthly work is done at a fixed or hourly rate depends on the
amount of work and is determined on a client by client basis.
Tax period: 2015 Forms: ________________________________________
Amount paid: $_____________Date: ______________Method: cash

check

credit card

Check #____________ Invoice #:______________ Tax Preparer:
Esther Eisenstein
Beth Eisenstein

Aaron Rubenstein

Scott Rubenstein

Prepaid audit is not in effect, until payment for tax preparation fee has been paid or is received in full
with this form in addition to fee circled above.

PLEASE FILL OUT THE FOLLOWING INFORMATION.

NAME:_________________________________________________________________
ADDRESS:_____________________________________________________________
______________________________________________________________
Home # (______)_________________________Work # (_______)____________________

CELL# (______)_______________________ FAX# (_______)______________________
EMAIL: ___________________________________________
May we add you to our LA Tax News List?
Yes
No
MAILING ADDRESS (IF DIFFERENT FROM HOME ADDRESS)
__________________________________________________________
__________________________________________________________

SPOUSE INFORMATION
NAME: _________________________________________________________________
WORK# (_____)____________________CELL# (_____)_________________________
FAX# (_____)_____________________
EMAIL: _______________________________________________
May we add you to our LA Tax News List?
Yes
No

PLEASE BE SURE TO PROVIDE YOUR TAX PREPARER YOUR CURRENT BANK
INFORMATION FOR DIRECT DEPOSIT OF REFUNDS TO YOUR ACCOUNT. IF BANK
ACCOUNT INFORMATION IS INCORRECT, REFUNDS WILL DELAY AND THE
IRS/FTB ISSUE CHECKS TO ADDRESS ON TAX RETURN.
A COPY OF A VOIDED CHECK IS BEST EVEN IF YOU THINK WE HAVE CURRENT
INFORMATION.


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